Attica Bank Chooses Temenos Connect for Channel Innovation

Press Releases, March 12, 2014

Temenos – Company

GENEVA, Switzerland – 12 March 2014 – Temenos (SIX: TEMN), the market-leading provider of mission-critical solutions to the financial services industry, today announces that it will be providing Attica Bank with Temenos Connect, its front office solution which enables the provision of multiple banking services across multiple delivery channels.   

Attica Bank has 400,000 customers across 80 branches, and is the largest non-public bank in Greece, following the large-scale recapitalisation of other banks by the public sector in recent years. It acquired Temenos Connect to innovate its channel offering for both internet and mobile. The bank currently offers only internet banking. 

The implementation of Temenos Connect will allow Attica Bank to replace its outdated existing solution. Temenos Connect will enable it to offer better services to its existing customer base, and provide the opportunity to increase customer acquisition. It will also differentiate the bank from its key competition, and allow it to offer enhance its services offering in areas where of no local presence. Attica Bank with an network of 80 branches need to compete  several local competitors that have in-excess-of 700 branches, so it recognises the importance of offering more services remotely to attract new customers and retain existing ones. Temenos Connect will also assist Attica Bank in its aim to divert its customers from using branches for transactions, and refocus the branches as points of sale and service. 

Attica Bank is currently creating its go-live plan, intending to complete the implementation in the following months. It has decided to perform most of the implementation in-house to gain the necessary skills to evolve its services with its own resources.

Mark Winterburn, Group Product Director at Temenos, said:

“We are delighted that Attica Bank has chosen Temenos Connect as its front office solution. The Temenos User Experience Suite offers innovative products in terms of technology and functionality, with the ability to service all channels through a single platform. It will benefit from the flexibility of the system to perform changes and offer services, as well as an improved time to market. The bank will also be independent from the channel system vendor to implement and evolve the channel offering.”

Stefanos Korodimos, CIO of Attica Bank, commented:

“Following the recapitalization of the bank and understanding the need to compete with much larger institutions Attica Bank had to differentiate its value proposition to the market and offer enhanced services and products. As part of its strategy, Attica Bank has been looking into acquiring an innovative solution to replace the current internet banking infrastructure. The Temenos Connect platform was selected as the best means to effectively manage the integration and deployment of services across multiple channels. Branch, internet, tablet, mobile, phone all will eventually be routed through Temenos Connect ensuring the same high End User Experience Standard.”